Are contractors a pain in the @$$?

Do you have trouble finding them…

Managing them…

And getting them to friggin’ do what you want them to?

We had this same problem for a long time.

We lost lots of money…

And spent a lot of time just being pissed off at contractors.

After about 7 years of trial and error, we finally cracked the code…

We created a simple process for finding, hiring, and managing contractors…

To make SURE that your rehab gets done RIGHT…

After all, it’s your investment.

You need to protect it so that your #’s still work…

And you can cashflow and replace your income (the whole point in the first place!)

Click the link below and grab your FREE copy of this checklist we created.

It’s simple, but it could literally save you hundreds of thousands of dollars.

CLICK HERE TO DOWNLOAD THE CHECKLIST

Also, let us know...what tips have YOU learned for how to manage your contractors?

Brian

After coaching so many people through the process of buying cashflow properties and replacing their income…

I’ve arrived at a “framework” that I have my clients follow.

This 9 step process is the most logical and effective way to build your portfolio.

So far, we’ve covered:

Step #1 - Pick Your Market

Step #2 - Build Your Team

Step #3 - Getting Setup

Step #4 - Find The Money

Step #5 - Find The Deals

Step #6 - Analyze Deals & Make Offers

Step #7 - Due Diligence

Step #8 - Closing & Funding

In today’s post, I’m going to cover the FINAL step, Step #9:

Renovate, Rinse, & Repeat!

Let’s dive in!

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So you own a house! Congrats! You’ve done the hard part. Now, it’s time to make that house clean and safe, ready for a tenant to move in and pay top-dollar rent.

Here are the keys to the “Renovate, Rinse, & Repeat” phase of buying a house:

1. Meet With Your Project Manager - The first thing...

Seth is the founder of REtipster. The lessons he learned on his journey to real estate investing success gave him a new mission: to empower others to their own create personal and financial freedom.

On this journey he didn’t stumble upon any secret shortcuts — he learned through trial and error. Now he’s sharing his knowledge and experience to make the internet a better place for real estate investors.

IN THIS EPISODE…

In this episode, Brian welcomes Seth Williams, from the amazing blog RETipster. They talk about how to know whether your income is TRULY passive, and Seth shares a unique form of investing that you may have never even considered!

After coaching so many people through the process of buying cashflow properties and replacing their income…

I’ve arrived at a “framework” that I have my clients follow.

This 9 step process is the most logical and effective way to build your portfolio.

So far, we’ve covered:

Step #1 - Pick Your Market

Step #2 - Build Your Team

Step #3 - Getting Setup

Step #4 - Find The Money

Step #5 - Find The Deals

Step #6 - Analyze Deals & Make Offers

In today’s email, I’m going to cover Step #7:

Due Diligence

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Once you get an offer accepted, it’s super important that you check that house out from top to bottom, and make ABSOLUTELY SURE it’s going to be a good investment.

I’ll go over how to do that below.

You ALSO want to make sure that the contract you are signing (and the one you are being “assigned”) give you time to make that happen…

WITHOUT forfeiting your earnest money.

Let’s dive...

After coaching so many people through the process of buying cashflow properties and replacing their income…

I’ve arrived at a “framework” that I have my clients follow.

This 9 step process is the most logical and effective way to build your portfolio.

So far, we’ve covered:

Step #1 - Pick Your Market

Step #2 - Build Your Team

Step #3 - Getting Setup

Step #4 - Find The Money

Step #5 - Find The Deals

In today’s email, I’m going to cover Step #6:

Analyze Deals & Make Offers!

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One the wholesalers send you the deals you are asking for, it’s important that you take action on them. The last thing you want to do is ignore their emails.

That will destroy the relationship and your chances of getting future deals from them.

So, you need to take time to analyze the deal, and MAKE AN OFFER.

It doesn’t have to be your final offer, just give them what you think you could pay, contingent upon getting inside the house...

After coaching so many people through the process of buying cashflow properties and replacing their income…

I’ve arrived at a “framework” that I have my clients follow.

This 9 step process is the most logical and effective way to build your portfolio.

So far, we’ve covered:

Step #1 - Pick Your Market

Step #2 - Build Your Team

Step #3 - Getting Setup

Step #4 - Find The Money

In today’s post, I’m going to cover Step #5 - Find The Deals

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Finding the deals is a crucial step. You want deals with cashflow and equity (although cashflow is most important).

You also don’t want to have to set up complicated marketing and sales systems to do this. It’s

not necessary (or affordable) when your goal is to acquire a handful of rentals each year.

Because of that, I recommend only ONE strategy for finding deals…

WHOLESALERS.

The people who are already spending money on marketing…

Talking to sellers…

...

After coaching so many people through the process of buying cashflow properties and replacing their income…

I’ve arrived at a “framework” that I have my clients follow.

This 9 step process is the most logical and effective way to build your portfolio.

So far, we’ve covered:

Step #1 - Pick Your Market
Step #2 - Build Your Team
Step #3 - Getting Setup

In today’s post, I’m going to cover Step #4 - Find The Money

**********************

Finding the money is maybe the most important step.

Not because it’s hard.

Because it gives you the most CONFIDENCE to move forward.

(And mindset is everything)

Here’s an overview of your major options when it comes to financing rental properties:

Residential Lenders

• This is your typical mortgage lender. They do 30 year fixed loans at the lowest interest rates. You can only get 10 maximum, you need 15-20% down, and there’s tons of paperwork. But if you can get approved for them, and you have the...

After coaching so many people through the process of buying cashflow properties and replacing their income…

I’ve arrived at a “framework” that I have my clients follow.

This 9 step process is the most logical and effective way to build your portfolio.

So far, we’ve covered:

Step #1 - Pick Your Market
Step #2 - Build Your Team

In today’s post, I’m going to cover Step #3 - Getting Setup

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Getting setup is a bit technical and boring, but it’s CRITICAL to having this whole thing automated, and to protecting yourself. 

Here are the steps:

Create Your LLC - Set this up so you can open a bank account under it afterwards. Consult with a RE attorney if you need help. I’ve set them up myself before, it’s not too difficult. You may need an operating agreement in some cases, too. The LLC is basically your insurance policy, it will protect you if you get sued or something. You will buy all your houses inside...

After coaching so many people through the process of buying cashflow properties and replacing their income…

I’ve arrived at a “framework” that I have my clients follow.

This 9 step process is the most logical and effective way to build your portfolio.

In last week’s post, I covered step #1 “Pick Your Market”

In today’s email, I’m going to cover step #2 - Build Your Team

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Having a team in place is the key to the whole thing. You’re both leveraging the knowledge of others…

And also delegating everything so that you can actually have passive income. 

Here’s the core “team” you need to get your first 12 houses:

1. Project Manager - This is the person who oversees your rehabs and communicates with contractors and inspectors. You pay them roughly $1,500 per rehab, so this is an as-needed, very part-time hire. Look for someone local who has good management and organizational...

After coaching so many people through the process of buying cashflow properties and replacing their income…

I’ve arrived at a “framework” that I have my clients follow.

This 9 step process is the most logical and effective way to build your portfolio.

In today’s email, I’m going to cover Step #1 - Pick Your Market

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Some of you may think you don’t NEED this step. You may already be familiar with (or even live in) a market that is great for rental properties. 

Still, it’s critical that you test your assumptions against the data. 

Make sure the market you invest in meets the criteria below. 

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Criteria #1: Rent/Price Ratio - Ever heard of the 1% rule? It’s where one month’s rent = 1% of the all-in price (purchase + rehab).

Example: $900/month in rent, $90,000 all in price. $900/$90,000= .01 (1%)

You need to do better than that. I like buying houses in the 1.3 to 1.6...